Ms. Kraft owns 135,000 shares of the common stock of Copperhead Corporation with a market value of $19 per share, or $2,565,000 overall. The company is currently financed as follows:

Market Value

Common stock (8 million shares)$475 million

Short-term loans$ 2 million

Copperhead now announces that it is replacing $1 million of short-term debt with an issue of common stock. What action can Ms. Kraft take to ensure that she is entitled to exactly the same proportion of profits as before?

a) What percent of the firm does Ms. Kraft currently own?(Do not round intermediate calculations. Enter your answer as a percent rounded to 3 decimal places.)please show full working.

b)Complete this sentence:(Do not round intermediate calculations. Round your answer to the nearest whole number.)Please show full working.

Ms. Kraft shouldborrow $??? and buy that much of copperhead stock.